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Measuring Online

Philip Sheldrakewww.philipsheldrake.com

@sheldrake

Author

The Business of Influence: Reframing Marketing and PR for the Digital Age

www.influenceprofessional.com

Founding Partner, Meanwhile

www.andmeanwhile.com

Freshly Squeezed training session 25th October 2011

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An illustrated history

http://youtu.be/wp2eUSL4oHc

http://www.philipsheldrake.com/2011/01/content-an-illustrated-history

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Questions

Tick those you consider to be unique…

Your organization ☐

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Questions

Tick those you consider to be unique…

Your organization

Your marketplace ☐

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Questions

Tick those you consider to be unique…

Your organization

Your marketplace

Your stakeholders ☐

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Questions

Tick those you consider to be unique…

Your organization

Your marketplace

Your stakeholders

Your marketing objectives ☐

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Questions

Tick those you consider to be unique…

Your organization

Your marketplace

Your stakeholders

Your marketing objectives

Your PR objectives ☐

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Questions

Tick those you consider to be unique…

Your organization

Your marketplace

Your stakeholders

Your marketing objectives

Your PR objectives

Your marketing strategy ☐

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Questions

Tick those you consider to be unique…

See where I’m going with this?

Your organization

Your marketplace

Your stakeholders

Your marketing objectives

Your PR objectives

Your marketing strategy

Your PR strategy ☐

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Questions

Tick those you consider to be unique…

See where I’m going with this?

Your organization

Your marketplace

Your stakeholders

Your marketing objectives

Your PR objectives

Your marketing strategy

Your PR strategy

Your marketing execution ☐

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Questions

Tick those you consider to be unique…

See where I’m going with this?

Your organization

Your marketplace

Your stakeholders

Your marketing objectives

Your PR objectives

Your marketing strategy

Your PR strategy

Your marketing execution

Your PR execution ☐

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Questions

Tick those you consider to be unique…

See where I’m going with this?

Your organization

Your marketplace

Your stakeholders

Your marketing objectives

Your PR objectives

Your marketing strategy

Your PR strategy

Your marketing execution

Your PR execution

Your metrics? ☐

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Questions

Tick those you consider to be unique…

See where I’m going with this?

Your organization

Your marketplace

Your stakeholders

Your marketing objectives

Your PR objectives

Your marketing strategy

Your PR strategy

Your marketing execution

Your PR execution

Your metrics?

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Five myths…

Social Media Measurement Guidance, CIPR, March 2011

Myth 1: We can measure everything digital precisely and instantly. Jim Sterne puts it like this: “The world of online marketing has been suffering from a delusion of precision and an expectation of exactitude.”

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Five myths…

Social Media Measurement Guidance, CIPR, March 2011

Myth 2: All digital metrics are useful. Just because you can measure it doesn’t mean you should. Katie Delahaye Paine puts it like this: “So what?!”

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Five myths…

Social Media Measurement Guidance, CIPR, March 2011

Myth 3: The new compound score everyone is talking about must be useful.Too few practitioners know what the numbers represent, nor then do they know how to interpret the quantities and ensure they are not misapplied.

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Five myths…

Social Media Measurement Guidance, CIPR, March 2011

Myth 4: One metric will do.One metric never suffices. You will need a balanced portfolio of metrics.

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Five myths…

Social Media Measurement Guidance, CIPR, March 2011

Myth 5: The more followers / friends the better.

The number of followers and friends indicates popularity, but popularity isn’t the same as influence.

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The Maturity of Influence Approach

The Business of Influence, Philip Sheldrake, Wiley, 2011, Table 5.1, page 47

Maturity Characteristics

High Trace the influence (the action) back to source. Focused on business

outcomes, as we should be. Best practice, intelligent and you could say scientific and professional marketing and PR, and associated activities.

Influence-centri

c

Medium It’s quality not quantity. Not how many people you interact with, but how and in what context?

Low Number of followers, friends, subscribers, circulation. Empirically supported network science. Akin to column inches and

AVE – measurement because you can, not because you should.

Influencer-centri

cPitiful Obfuscating compound measures of

non-contextual trivial variables. No empirical evidence.

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Barcelona Principles (2010)

1. Importance of goal setting and measurement

2. Measuring the effect on outcomes is preferred to measuring outputs

3. The effect on business results can and should be measured where possible

4. Media measurement requires quantity and quality

5. AVEs are not the value of public relations

6. Social media can and should be measured

7. Transparency and replicability are paramount to sound measurement.

Final Barcelona Declaration of Measurement Principles, July 22, 2010

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The AMEC Valid Metrics Matrix

Final “Barcelona Declaration of Measurement Principles”, July 22, 2010

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The AMEC Valid Metrics Matrix

Final “Barcelona Declaration of Measurement Principles”, July 22, 2010

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Best practice process for selecting and defining social media metrics1. Audit – Where are we now?

2. Setting measurable objectives – Where do we need to be?

3. Strategy and plan – How do we get there?

4. Measurement and analytics – Are we getting there?

5. Results and evaluation – How did we do?

Research, Planning and Measurement Toolkit, CIPR, October 2010

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Best practice process for selecting and defining social media metrics1. Audit – Where are we now?

2. Setting measurable objectives – Where do we need to be?

3. Strategy and plan – How do we get there?

4. Measurement and analytics – Are we getting there?

5. Results and evaluation – How did we do?

Social Media Measurement Guidance, CIPR, March 2011

2.1 Define your measurable objective

2.2 Define your benchmark set – comparative / relative

2.3 Define the ideal metrics

2.4 Identify candidate metrics that combine to best meet your ideal definition (don't try and make your metrics universal across the organisation, but apply

different metrics for different audiences)

2.5 Tailor each one to your specific needs, recognising its shortcomings / limits

2.6 Document these steps to make the process auditable and more easily reviewed

2.7 Set a review date and owner.

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Golden rules for metric selection Only employ metrics that directly and obviously guide behaviour and

performance as required by strategic objectives

Metrics need each other – no metric can achieve what’s needed alone

Metrics must complement not compete

Just because something is easy to measure, or is already measured, does not qualify it as a good metric

When you have a choice of two equally appropriate metrics, select the most readily understood

Never employ fewer or more metrics than will suffice

Metrics with unneeded side effects aren’t quite right – redesign them; or, a metric that can be gamed demands a complementary metric to ensure that it isn’t.

The Business of Influence, Philip Sheldrake, Wiley, 2011, page 115

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Researching candidate metrics

Social Media Metrics, Sterne

Measure What Matters, Paine

Marketing Metrics, Farris, Bendle, Pfeifer, Reibstein

http://kpilibrary.com

http://www.smartkpis.com http://www.kpi-portal.com http://www.bsccommunity.com http://www.thepalladiumgroup.com/communities/XPC

The Business of Influence, Philip Sheldrake, Wiley, 2011, page 115

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Bibliography

Social Media Metrics: How to Measure and Optimize your Marketing Investment, Jim Sterne, Wiley, 2010, 978-0470583784

Measure What Matters: Online Tools For Understanding Customers, Social Media, Engagement, and Key Relationships, Katie Delahaye Paine, Wiley, February 2011, 978- 0470920107

The Business of Influence: Reframing Marketing and PR for the Digital Age, Philip Sheldrake, Wiley, April 2011, 978-0470978627

Marketing Metrics: The Definitive Guide to Measuring Marketing Performance, W. Farris, Neil T. Bendle, Phillip E. Pfeifer, David J. Reibstein, 2010, Wharton School Publishing, ISBN: 9780137058297

Balanced Scorecard: Translating Strategy into Action, Robert S. Kaplan and David P. Norton, 1996, Harvard Business School Publishing Corporation, ISBN: 9780875846514

Social Media Analytics: Effective Tools for Building, Interpreting and Using Metrics, Marshall Sponder, McGraw-Hill, August 2011, 978-0071768290

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Bibliography

Final “Barcelona Declaration of Measurement Principles”, July 22, 2010:

http://www.amecorg.com/images/public/barcelonaprinciplesforprmeasurementslidesfinal_22j uly2010.ppt

AMEC’s “PR Measurement Metrics: From Concept to Implementation Reality” proceedings, including the “valid metrics” and social media guidelines: http://www.londonmeasurementconference.org/downloads.html

Institute for PR Measurement Commission’s “social hub” with commentary and background on the Barcelona Principles, “valid metrics” approach and related measurement discussion: http://www.iprmeasure.org

CIPR Social Media Measurement Guidance:

http://www.cipr.co.uk/content/policy-resources/for-practitioners/research-planning-and-measurement/toolkit/social-media-measurement

CIPR Research, Planning and Measurement Toolkit: http://www.cipr.co.uk/content/pr-resources/practitioners/research-planning-and-measurement